Frame rate was not a problem with 0.16.51. The above is using version 0.17.21 and many mods, but things are roughly the same with 0.17.28 and no mods. The CPUs bounce around from about 30% to 80%. MSI Afterburner says both GPUs are at 100%, even on the map and technology screens, each using ~450 MB of memory. My system uses AMD FX-8120 8-core processor at 3.1 GHz, 16 GB RAM, integrated ATI Radeon 3000 graphics (ATI display adapter 0x9616), 512 MB dedicated video memory. Texture compression is low quality, sprite resolution is normal. I have disabled smoke, use half color depth, all video memory settings have been tried and don't seem to matter much.
FPS = 6.4 when zoomed in, 10.5 when zoomed all the way out, with alt mode engaged, and 14.7 in map view. I, too am having slow FPS, and it's hard to maneuver the character because the game is so jumpy.